Most financial services organizations around the world must now comply with legislation mandating the preservation of financial records. Regulators require the long-term preservation of records and communication. In recent years, the length of time available to organizations to find records after a discovery order has been significantly reduced. Typically data must be stored for 7 years, but the same data can become an expensive liability if retained. Organizations are generally encouraged to create data retention policies which outline their individual requirements for deleting data. These policies should be designed with compliance to regulations in mind.
Most organizations employ an eDiscovery application that tracks key words and metadata associated with each file. If a court order or regulatory request is made for information expected or believed to be retained by an organization, it must take immediate steps to fulfill the order. Having an eDiscovery application allows an organization to sift through its entire archive for files that relate to the search.
QStar Archive Manager and Archive Replicator create a virtualized archive for one or many archive technologies. The archive storage is always seen as a network share and is easily paired with eDiscovery solutions. QStar Archive Manager and Archive Replicator also offer Retention Management, Digital Signature and Encryption options to provide the combination of data security and data purging that financial services organizations require.
Many financial services companies have chosen to use Content Addressable Storage (CAS) or Object Storage, such as Centera or HDS HCP, to store their records. These solutions offer high performance and excellent data security through use of replicated hard disks. QStar Archive Replicator can help add an additional low-cost archive using NAS RAID or a tape library to add an affordable disaster recovery copy at a remote site.
To find out more about how QStar data management and archiving software solutions can benefit your organization, contact us. We welcome the opportunity to discuss your individual archiving needs.